Knight EVP and CFO Steven Bisgay Adds Responsibility as Chief Operating
Managing Director Brian Strauss promoted to the newly-created position of
Chief Risk Officer
JERSEY CITY, N.J., Sept. 20, 2012
JERSEY CITY, N.J., Sept. 20, 2012 /PRNewswire/ --Knight Capital Group, Inc.
(NYSE Euronext: KCG) today announced that Executive Vice President and Chief
Financial Officer Steven Bisgay has added responsibility as Chief Operating
Officer, effective immediately.
Mr. Bisgay joined Knight in June 2001 and was named Chief Financial Officer in
August 2007. During his tenure at the firm, Mr. Bisgay has overseen the
development of Knight's financial infrastructure, acquisitions of numerous
businesses, establishment of internal audit and enhancement of reporting
functions. Going forward he is responsible for all financial and operational
aspects of the firm, including accounting, finance, treasury, risk management,
operations, technology, human resources, business development and investor
"Steve is a proven talent with expansive knowledge of Knight's operations and
tremendous respect from colleagues," said Tom Joyce, Chairman and Chief
Executive Officer, Knight Capital Group. "After careful consideration, we
concluded it was best to consolidate responsibility for all financial,
operational and technology risk under a single executive."
Mr. Joyce added, "I'm pleased with the work to date to fine-tune processes and
realign resources. As a result of the efforts, I believe Knight is better
situated to pursue growth from a stronger foundation."
Knight also announced that Managing Director Brian Strauss was promoted to the
newly-created position of Chief Risk Officer with global responsibility for
credit, market and operational risk management. Mr. Strauss joined Knight in
August 2009 and was named Chief Credit Officer in October 2010. In that role,
he oversaw the buildout and enhancement of the firm's credit control
infrastructure. He will report to Mr. Bisgay.
"Brian brings a disciplined approach to risk management that speaks to the
depth of his experience," said Mr. Bisgay. "He is highly regarded within the
capital markets risk community. Since joining Knight, he's made a clear impact
through building an effective team, instituting global risk management systems
and advancing the firm's handling of credit risk."
As part of a continuing review of technology operations, Knight has initiated
an internal and external search for a Chief Technology Officer to report to
Mr. Bisgay. During the search process, Managing Director Michael Tobin, a
12-year veteran of Knight, will serve as interim CTO. Knight has also begun an
external search for an Operational and Technology Risk Manager to report to
In addition, Executive Vice President Steven Sadoff will transition to
building the firm's correspondent clearing, prime brokerage and futures
businesses from overseeing operations, services and technology.
"Steven Sadoff has led several critical initiatives at Knight including the
buildout of Knight's trading floor technology, networking infrastructure and
clearing operations," said Mr. Joyce. "I'm excited about Knight's
clearing-focused initiatives, which I've asked Steve to lead, as they leverage
Knight's execution capabilities to expand our client offering."
Executive Vice President, Chief Operating Officer and Chief Financial Officer
Knight Capital Group, Inc.
Steve Bisgay is responsible for all financial and operational aspects of the
firm. He has more than 20 years of experience in the securities and financial
Mr. Bisgay has been Chief Financial Officer of the Company since August 2007.
Prior to his appointment, Mr. Bisgay was the Managing Director, Business
Development for the Company since November 2005. Previously, Mr. Bisgay was
the Group Controller for the Company since June 2003 and the Director of
Internal Audit for the Company since June 2001. Mr. Bisgay is a certified
public accountant and was a Senior Manager in the Financial Services Industry
Practice at the accounting firm of PricewaterhouseCoopers LLP from 1989 to
2001. Mr. Bisgay served on the Board of Managers of Direct Edge Holdings LLC
from July 2007 to December 2008, and currently serves as a member of the
Finance and Audit Committee of the Board of Managers of Direct Edge Holdings
Mr. Bisgay received a bachelor of science in accounting from Binghamton
University and a master of business administration from Columbia University.
Brian S. Strauss
Managing Director, Chief Risk Officer
Knight Capital Group, Inc.
Brian Strauss oversees all credit, market and operational risk management at
Knight and has more than 25 years of capital markets credit and risk
Mr. Strauss has been Chief Credit Officer of Knight since October 2010. Prior
to his appointment, he was Head of Credit Risk for Knight's institutional
fixed income business. Mr. Strauss joined Knight in August 2009. Prior to
that, he was a Managing Director and Senior Credit Officer at UBS Americas
Inc. from 2004 to 2009, serving as Co-Head of Hedge Fund Credit in the
Americas and managing a team of credit officers and analysts. Earlier, he was
a Managing Director and Capital Markets Credit Officer at Bank One. Mr.
Strauss is highly active in the New York capital markets risk community.He is
the President of the Risk Management Association - New York Chapter (RMA NY)
and is a former Chairperson of the Capital Markets Credit Analysts Society
Mr. Strauss received a bachelor of science in finance from Georgetown
University and a master of business administration from the Leonard N. Stern
School of Business at New York University.
Knight Capital Group (NYSE Euronext: KCG) is a global financial services firm
that provides access to the capital markets across multiple asset classes to a
broad network of clients, including broker-dealers, institutions and
corporations. Knight is headquartered in Jersey City, N.J. with a global
presence across the Americas, Europe, and the Asia Pacific regions. For
further information about Knight, please visit www.knight.com.
SOURCE Knight Capital Group, Inc.
Contact: Kara Fitzsimmons, Managing Director, Media Relations,
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